BaFin reportedly advised Binance that CEO Changpeng Zhao wouldn’t pass a “fit and proper” test as part of the financial watchdog’s licensing regime. The German Federal Financial Supervisory Authority, or BaFin, reportedly advised crypto exchange Binance to withdraw its licensing application based on concerns with CEO Changpeng Zhao (CZ) and the firm’s structuring. According to...Continue Reading

The total value locked in DeFi protocols remained below $50 billion after another week of exploits. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was dominated by exploits and hacks,...Continue Reading

Investors reported they lost up to $2.2 million when the developer of Pond0x allegedly mishandled the token’s launch. The launch of memecoin Pond0x (PNDX) has led to millions of dollars in losses for investors, according to multiple reports on social media on July 28. Data from the Maestrobots trading app shows that the token reached...Continue Reading

Oracles enable value, but they are also susceptible to value manipulation; co-founders of Cosmos-based Seda discuss their benefits and how to prevent pitfalls. The year 2022 was not a very good year for Cosmos and its vision of inter-blockchain communications (IBC). The collapse of the Terra Luna ecosystem (the biggest protocol on Cosmos at the...Continue Reading

This week’s Crypto Biz explores Elon Musk’s plans for X, the Italian central bank’s take on DeFi, PacWest’s merger with Banc of California and more. Social media platform X — formerly known as Twitter — may soon advance plans to add financial services to its users, hoping to become the American equivalent of the Chinese...Continue Reading

Lawyers claimed there was a “need to avoid” the public dissemination of documents Sam Bankman-Fried had shown a New York Times reporter which led to a story on Caroline Ellison. Lawyers representing former FTX CEO Sam Bankman-Fried, also known as ‘SBF’, have requested the court seal documents related to his interviews with a New York...Continue Reading

The French data protection agency CNIL said that it finds the legality of Worldcoin’s collection methods “questionable” as are its conditions for storing the data. The French data protection agency, also called the Commission Nationale Informatique & Libertés (CNIL), is reportedly questioning the legality of data collection methods conducted by Worldcoin, according to a Reuters...Continue Reading

Bitcoin traders expect downside as BTC price offers a muted reaction to the Fed’s “preferred” inflation metric. Bitcoin (BTC) stayed rangebound at the July 28 Wall Street open despite further United States inflation data beating expectations. BTC/USD 1-hour chart. Source: TradingView Fed’s “preferred” inflation metric points to waning pressure Data from Cointelegraph Markets Pro and...Continue Reading

Blockchains’ tracing capacities can help certify that crops weren’t grown by razing woodlands or harvested with child labor. Small farmers in the developing world may be on the cusp of an agricultural breakthrough. With emerging technologies like satellite imagery, drones and machine learning boosting productivity, it’s becoming more viable than ever to sell their produce...Continue Reading

Mighty Bear Games CEO Simon Davis — AKA “Papa Bear” — gave us a look inside his Web3 gaming studio, and his thoughts on the future of gaming. Simon Davis is the co-founder and CEO of Mighty Bear Games, a multiplatform game developer in Southeast Asia creating accessible multiplayer experiences in Web3. Davis has spent...Continue Reading